The Bitcoin price (BTC/USD) has seen a solid uptick following its Wednesday slump towards the $9,000 mark.
The original cryptocurrency performed poorly during yesterday’s morning trading, when its price tumbled down to the low $9,000 area. The coin fell to as low as $9,163.13 during the late morning session, which was its lowest price level since June 19. However, the coin managed to pick up in subsequent trading and was able to recoup its earlier losses. The coin even tested the $10,000 mark during the afternoon, but eventually finished the session at $9,693.80, up from its opening price level of $9,471.21.
While BTC has seen further gains in today’s trading, it has remained unable to recapture the $10,000 mark. The coin rose to as high as $9,960.05 in the morning, but has since pulled back to lower levels. At the time of writing, the Bitcoin price was hovering around the $9,800 mark, according to data from digital currency tracker Coinmarketcap.
Bitcoin and the larger digital currency market have struggled recently amid a corrective trend following its strong rally earlier this month. The congressional hearings in the US over Facebook’s Libra crypto project have also dampened the market sentiment. The recent uptick signals that the market might be attempting to bounce back following the challenging trading seen in the past couple of sessions. Most major altcoins have also seen solid gains over the past 24 hours, with Litecoin (LTC) being the standout performer in the crypto top 10 thanks to its 24-hour gain of over 15%.
In today’s trading, the Bitcoin price stood at $9,764.25, as of 13:14 BST. The digital coin has gained 4.3% in the past 24 hours, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at just over $174 billion, which represents 65.1% of the combined value of all digital currencies.
Featured image: Jaruwan Jaiyangyuen/Shutterstock.com
The post Bitcoin price (BTC/USD) bounces back following poor Wednesday morning trading appeared first on The Independent Republic.